The price is in correction; the probability of growth is maintained.

On the daily chart, the ascending wave B continues to develop, in which the leading first wave 1 of (А) of B has ended, the correction as the second wave 2 of (А) of B has completed and the third wave 3 of (А) is being built. At the moment, the first wave of the lower level i of 3 has formed and a local correction has taken place as the second wave ii of 3, in which the development of the third wave iii of 3 has begun. If the assumption is correct, the upward dynamics of the EUR/USD pair will continue to the area of 1.1480–1.1680. The level of 1.0906 is critical and stop-loss for this scenario.

Main scenario

Long positions are relevant above the level of 1.0906 with targets at 1.1480–1.1680. Implementation time: 7 days and more.

Alternative scenario

Breakdown and consolidation of the price below the level of 1.0906 will allow the trading instrument to continue its downward dynamics to the area of 1.0791–1.0634.